Full Throttle: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Full Throttle
Largest movements
- Receivables within one year -€14.9m
down €14.9m (-22.5%), from €66.1m to €51.2m
of which Trade receivables: -€54.9m
- Stocks and contracts +€10.8m
up €10.8m (+190.2%), from €5.7m to €16.5m
- Other debts -€12.1m
no longer reported in 2025 (was €12.1m)
- Trade debts +€11.1m
up €11.1m (+21.8%), from €50.9m to €62.1m
- Tax, wage and social debts -€3.3m
down €3.3m (-33.6%), from €9.8m to €6.5m
- Turnover -€17.0m
down €17.0m (-9.8%), from €173.7m to €156.8m
- Goods and materials -€12.2m
down €12.2m (-7.0%), from €175.0m to €162.8m
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €72,998,114 | €68,677,222 | -€4.3m | -5.9% |
| Current assets | 29/58 | €72,998,114 | €68,677,222 | -€4.3m | -5.9% |
| Stocks and contracts in progress | 3 | €5,700,083 | €16,540,262 | +€10.8m | +190.2% |
| Contracts in progress | 37 | €5,700,083 | €16,540,262 | +€10.8m | +190.2% |
| Amounts receivable within one year | 40/41 | €66,141,622 | €51,235,845 | -€14.9m | -22.5% |
| Trade receivables | 40 | €66,141,622 | €11,253,559 | -€54.9m | -83.0% |
| Other amounts receivable | 41 | - | €39,982,286 | +€40.0m | |
| Deferred charges and accrued income | 490/1 | €1,156,410 | €901,115 | -€255,294 | -22.1% |
| Total equity and liabilities | 10/49 | €72,998,114 | €68,677,222 | -€4.3m | -5.9% |
| Equity | 10/15 | €70,087 | €71,119 | +€1,031 | +1.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,587 | €9,619 | +€1,031 | +12.0% |
| Amounts payable | 17/49 | €72,928,027 | €68,606,103 | -€4.3m | -5.9% |
| Amounts payable within one year | 42/48 | €72,928,027 | €68,606,103 | -€4.3m | -5.9% |
| Trade debts | 44 | €50,948,009 | €62,074,284 | +€11.1m | +21.8% |
| Suppliers | 440/4 | €50,948,009 | €62,074,284 | +€11.1m | +21.8% |
| Taxes, remuneration and social security | 45 | €9,841,647 | €6,531,819 | -€3.3m | -33.6% |
| Taxes | 450/3 | €9,841,647 | €6,531,819 | -€3.3m | -33.6% |
| Other amounts payable | 47/48 | €12,138,371 | - | -€12.1m | |
| Operating income | 70/76A | €179,418,136 | €167,597,216 | -€11.8m | -6.6% |
| Turnover | 70 | €173,718,054 | €156,756,702 | -€17.0m | -9.8% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | €5,700,083 | €10,840,179 | +€5.1m | +90.2% |
| Other operating income | 74 | - | €335 | +€335 | |
| Operating charges | 60/66A | €179,394,900 | €167,575,363 | -€11.8m | -6.6% |
| Goods for resale, raw materials and consumables | 60 | €175,045,198 | €162,795,204 | -€12.2m | -7.0% |
| Purchases | 600/8 | €175,045,198 | €162,795,204 | -€12.2m | -7.0% |
| Services and other goods | 61 | €4,349,175 | €4,779,016 | +€429,841 | +9.9% |
| Other operating charges | 640/8 | €528 | €1,143 | +€615 | +116.5% |
| Operating profit (loss) | 9901 | €23,236 | €21,853 | -€1,383 | -6.0% |
| Financial charges | 65/66B | €19,501 | €19,534 | +€33 | +0.2% |
| Recurring financial charges | 65 | €19,501 | €19,534 | +€33 | +0.2% |
| Other financial charges | 652/9 | €19,501 | €19,534 | +€33 | +0.2% |
| Profit (loss) for the period before taxes | 9903 | €3,735 | €2,319 | -€1,416 | -37.9% |
| Income taxes | 67/77 | €934 | €1,288 | +€354 | +37.9% |
| Taxes | 670/3 | €934 | €1,288 | +€354 | +37.9% |
| Profit (loss) for the period | 9904 | €2,801 | €1,031 | -€1,770 | -63.2% |
| Profit (loss) for the period to be appropriated | 9905 | €2,801 | €1,031 | -€1,770 | -63.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.